Closing Market News October 12, 2007

The Dow closed up 77.96 points at 14,093.08 and the Nasdaq closed up 33.48 at 2805.68. Transports closed up 49.52 at 4940.76.

Total volume on the NYSE was below average trading 1.09 billion shares. Up/down volume was 1.55 to 1 positive, Nasdaq up/down volume was 3.62 to 1 positive.

Dec. E-mini S&P Futures closed up 9.25 at 1547.50 and the Dec. Nasdaq 100 Futures closed up 32.50 at 2199.25. Dec. E-mini S&P Futures total volume was below average trading 1.4 million contracts. Dec. 30 Yr. T-Bond Futures closed down 0-08 at 110-12.

Nov. Oil Futures closed up .61 cents at 83.69 and Nov. Natural Gas Futures closed up .10 at 6.97.

Dec. Gold Futures closed down 2.90 at 753.80 and Dec. Silver Futures closed down 0.082 at 13.903.

Grains were mixed with Dec. Wheat Futures 25 ¼ cents lower closing at 8.57 ½, Nov. Beans closed down 4 ¾ at 9.76 ¾, and Dec. Corn closed up 7 ¼ cents at 3.51.

Dec. Live Cattle Futures closed down 0.550 at 97.225 and Nov. Feeder Cattle closed down 1.000 at 113.475. Dec. Lean Hogs closed down 2.250 at 58.275.

“We can evade reality, but we cannot evade the consequences of evading reality.”

Author: Any Rand

As I SEE IT: The market had a remarkable recovery today after the huge down draft yesterday. The E-mini S&P traded sideways to higher all day and closed right at the high. The Nasdaq was very strong after plunging yesterday. The markets are global today so times have changed in the trading business. Years ago if we’d had an outside trading-day to the downside on heavy volume the market would have had a very high percentage chance of continuing that direction.

How many of us would have believed the market could be setting new all time highs with $84 dollar Oil, higher Interest Rates, the Subprime Issues, and a war going on. Yet, that’s what’s happening so that’s the reason I like to use Technical Trading Strategies to trade the market.

Using the Soaring Phoenix Day-Trading Strategies I lost money in the S&P Futures today, but the Wheat and Oil contracts worked well for me.

HAVE A GREAT WEEKEND!

Have as much fun trading as I do.

Ray